Euro Marketing Releases MVR 7 Million For First Year Of Bonds

Euro Marketing has disbursed over MVR 7 million as the initial payment to bond investors, marking the commencement of payouts for bonds listed in private placements.

The bonds issued by Euro Marketing were the inaugural ones to be listed in private placements within the country. Subscription for these four-year conventional amortized bonds closed on March 5 last year. Investors in these bonds will receive interest and principal repayments annually over the four-year term.

Euro Marketing initiated the sale with a MVR 25 million bond scheduled for repayment over four years. These bonds carry an interest rate of 7.5%, which is lower than the prevailing borrowing rates offered by most banks in the country, typically ranging between 10% and 15%.

To facilitate Euro Marketing's entry into the financial market, First National Finance Corp, renowned for structuring such bonds, has been enlisted as the lead organizer. The inaugural Sukuk offering for EyeCare Private Limited is now open for subscription on the Viyana platform as facilitated by First National.

Detailed investment information and the Sukuk prospectus will be accessible on the Viyana website.